Caroona is a small village in Liverpool Plains Shire, New South Wales, Australia.

[2] Caroona is located on the Quirindi-Coonabarabran road, about 20 kilometres WNW of Quirindi.

Caroona is located in the prime Liverpool Plains agricultural region.

Caroona formerly had a station on the Binnaway – Werris Creek railway line and has a grain storage and loading facility.

The village of Walhallow is located about 2 kilometres north of Caroona, although it is across the local government area boundary, in Gunnedah Shire.